Other Telecom Services company Tejas Networks announced Q1FY24 results: For Q1FY24, consolidated net revenue was Rs 187.9 crore, which was a YoY increase of 49.4%, resulting in a loss before tax of Rs 65.9 crore as compared to loss of Rs 12.9 crore for Q1FY23. Loss after tax was Rs 26.3 crore as compared to loss of Rs 6.6 crore for Q1FY23. As on June 30, 2023, Tejas and its subsidiaries have filed for 445 patents of which 267 have been granted. Anand Athreya, Managing Director and CEO of Tejas Networks said, “In Q1FY24 we saw a YoY growth of 49%. The QoQ revenue decline was primarily due to transition of EMS facilities and some supply chain challenges. The loss after tax was primarily due to continued investment in R&D; for growth and increased component costs due to expedite fees and spot buys to ensure critical customer shipments. We have successfully commissioned the pilot network of 200 sites for the BSNL 4G network and plan to ramp up our supplies in the coming quarters”. Venkatesh Gadiyar, CFO said, “As on June 30, 2023, our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, were at Rs 943 crore and we continue to be a debt-free company. On the merger of Saankhya with Tejas, on July 06, 2023, the stock exchanges in terms of Regulation 94 of SEBI (LODR) Regulations, 2015, have conveyed their no objection on the Scheme. Currently, we are in the process of filing the Scheme with National Company Law Tribunal (NCLT).” Result PDF
Telecom Services Company Tejas Networks announced Q4FY23 results: Consolidated Q4FY23: Net revenue was Rs 299.3 crore, which was a YoY increase of 136.6%, resulting in a loss before tax of Rs 27 crore, as compared to a loss of Rs 95.9 crore for Q4FY22. Loss after tax was Rs 11.5 crore, compared to a loss of Rs 49.6 crore in Q4FY22. Effective Q2FY23 Saankhya Labs and its subsidiaries' financials have been consolidated and the above includes revenue of Rs 15 crore from Saankhya for Q4FY23. Consolidated FY23: Net revenue was Rs 919.6 crore, which was a YoY increase of 67%, resulting in a loss before tax of Rs 42.7 crore, as compared to a loss of Rs 117.1 crore for FY22. Loss after tax was Rs 36.4 crore, compared to a loss of Rs 62.7 crore in FY22. As on March 31, 2023, Tejas and its subsidiaries have filed for 445 patents, of which 217 have been granted. Sanjay Nayak, Managing Director and CEO of Tejas Networks, said, "In FY23, we recorded our highest-ever consolidated revenues of Rs 920 crore and highest-ever new order inflow. We are starting FY24 with a robust order book of Rs 1,934 crore and strong visibility into large opportunities. We have made significant investments in our supply chain processes and taken adequate inventory actions to ensure that we can scale up and deliver on the growth opportunities ahead of us. During FY23, in line with our business growth plans, we made significant investments in R&D;, supply chain and field-support, and our headcount increased by 41%." Venkatesh Gadiyar, CFO said, "As of March 31, 2023, our cash and cash equivalents, including investment in liquid mutual funds and deposits with financial institutions, were at Rs 1,306 crore and we continue to be a debt-free company. We have made cash flow plans, working with our suppliers to ensure that we can deliver on our growth and can execute large orders without stressing our working capital." Result PDF
Conference Call with Tejas Networks Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.